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“Incofin is as good as its word. Agreements with clients and with the microfinance market are honoured.”

Revolution broke out in Kyrgyzstan in June 2010. Certain moneylenders suspended all domestic loans. One of them even cancelled a contract that had already been signed. Incofin itself, however, came with the suggestion to grant postponement of repayment of an existing credit that was almost due to be repaid. This was possible thanks to the close relation we had built in the meantime. Incofin had a clear understanding of the working conditions in Kyrgyzstan and the financial health of Kompanion. Incofin is as good as its word when it comes to their long-term obligations with clients and with the microfinance markets in which they are active. Kompanion is very grateful for this trustful partnership.

Erkinbek Jumabaev

CEO Kompanion

My wife is a teacher. I am employed by the municipality as a statistician. In 2008 I bought a plot of land and planted apricot seedlings. The result was disappointing and there was no one I could ask for advice. Until Kompanion founded a specialization group in 2015, giving each year free training to 15 farmers: the Farmer Field School. We were given useful theory lessons, and practical lessons took place in the gardens of the participants. Then I was told that the seedbeds I had made in the rocky soil were too small and that the seedlings had been planted too close to each other. Moreover, the plants I had bought in the market in the Chui region were unable to adapt to the circumstances in our region.

My knowledge and skill grew, and I could take out a first group loan with Kompanion to buy 50 seedlings from a local nursery. After the loan had been repaid, I could invest again. I bought 40 new apricot trees. Today we also harvest apples, cherries, currants and raspberries. We, meaning my own family – we have three children – and my brother’s family. I pay him good wages to give him the chance to work on his future too.

I think I will use the next loan for the installation of a drip irrigation system. That way we will use less water and we can focus on nursing the trees and the plants and on harvesting.


Alybaev, 49 years old

Kompanion, from microfinance institution to commercial partner

Founded in 2004. Erkin Jumabaev has been the new CEO since recently.

Kompanion has a strong social commitment and it is the only microfinance institution in Kyrgyzstan that has its own Technical Assistance Department, providing free advice in 2015 to over 12,600 clients for the development of their farms.

In 2016 Kompanion evolved into a commercial bank, creating even more growth and development possibilities for the community. In the purview of the Farmer Field School, Kompanion provides various types of training and organizes annual fairs and festivals in the rural areas.

The collaboration between Kompanion and Incofin is a strong example of relationship banking, which goes further than mere financial transactions. For instance, during the revolution in 2010, Kompanion along with a couple of other organizations developed a relief action that was also supported by Incofin. That resulted in five tons of food parcels, care products and medicines and antiseptics.

Key figures December 2016

  • Number of clients: 99,293
  • Loans portfolio: 56 million USD
  • Average loan: 551 USD
  • Percentage of female clients: 31 %
  • Clients in rural areas: 66 %


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